Jan 14, 2013 8:00am PST
this is according to the white house. he's going to be focusing though on the debt ceiling. that will be his opening statement. now, the president has made repeated calls for congress to raise the limit without strings attached. we'll see how it goes. also likely to be mentioned in today's presidential news conference is the administration's push for gun control. today marked one month since the deadly shooting in newtown, connecticut. but vice president joe biden is expected to deliver his recommendations to the president tomorrow is holding one last meeting today with a dozen house democrats. as the gun control discussion takes center stage on capitol hill, the white house is already saying it will put its full force behind those proposals including what could be the toughest fight, the call to revibe the assault weapons ban. >> assault weapon ban is a tough one because it's hard to define what assault weapon is. and if we're just defining it by what it looks like, that doesn't do much for me. >> you think you have enough on capitol hill to keep an assault weapons ban fro
Jan 16, 2013 11:00pm EST
it not comprehend it's not merely the nation's credit rating that's at risk from the debt ceiling debacle, but the full faith and credit of the republic itself? how long can we shrug off this grand canyon plunge that's coming? as we did again with another benign day, dow tipped 24 points, and nasdaq advanced .22%. this is behavior. is the market actually smarter than you and i think? i'm starting to believe the latter and tonight i'm going to tell you why. first, i don't necessarily want to invest in a country if it doesn't pay its bills. deadbeat country, but i don't mind if it can pay its bills but for a moment refuses to. constitution says it must honor its debts no matter what. i believe passionately that we will pay debts in a timely fashion. congress is supposed to hold the purse strings, but the american people are less stupid than washington thinks they are. they lived through another one of these scares. that time, we were frightened, frightened about what a ratings agency downgrade would mean to the country. do you remember where you were that weekend when we got the downgrade?
Jan 15, 2013 11:00am PST
deficit reduction plan. understand that fitch is not just looking for an 11th hour debt ceiling deal that sets the table for another mini crisis down the road. the federal government hit the debt limit as you know on december 31st. the treasury is using so-called extraordinary measures to pay its bills through mid-february or early march. now, fitch predicts washington will extend the debt ceiling despite the current war of words between president obama and republicans in congress. what happens if we get downgraded? it happened before. remember 2011, when standard & poor's did it. that hit markets and the wider economy hard, but it didn't cause interest rates to increase. this time could be different, however, because the rest of the world is getting its act together. even successful businesses like ford are worried. here's what ceo alan mulally told me today. >> i think the most important thing to your point is that we come together around a solution that allows us to live within our means, to reduce our budget deficits, and also to deal with our trade deficits, and create an enviro